Schwab has done his part by laying me off and i have done my part by today transferring all my assets and 401K to Fidelity. In my career of 16 years i worked most in schwab and got laid off due to older schwab employee politics
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Schwab charges $50 for full transfer of assets. No charge for partial. https://www.schwab.com/legal/schwab-pricing-guide-for-individual-investors
You could leave a little bit that you could sell later.
I’m going to do so too, not so much out of malice but out of a need to consolidate my own 401K accounts for my new job.
I’m planning to do the same shortly. I know many others that are looking to move as well.
Schwab charges $50 fee to move accounts..
Done! Bye Schwab!
Don’t forget to move your HSA from Optus. High fees, no interest on cash, and slow to transfer. I moved mine to Fido. Be sure to covert to cash if needed for the transfer. Optimum doesn’t contact you if there’s an issue.
were there any fees associated with this move? looking to do the same.
Not OP.
No. Fidelity is happy to get assets and is free to transfer and free for most services. Really an excellent option.
Vanguard charges an account fee and has other costs, but some can be waived with electronic documents and other options that you'd likely choose anyway.
All clients need to do is look at LinkedIn for their trusted Schwab advisor and then move their business over there too. Schwab will lose a lot of business to Fidelity. With morale so low at Schwab, no one will really work hard to stop the bleed of clients from running to their advisors now working for Schwab's competitors. It's the advisors that are the true products that bring in and retain clients, not the platforms or tools.
were there any fees associated with this move? looking to do the same.
Good for you! I’m right behind you. This layoff certainly had absolutely nothing to do with loyalty, performance or establishing great relationships. So that leaves..,
I’m sure those “brilliant” 20 year old consultants know best though! I’m sorry I worked so hard there! For what?????????
I'm looking for a solid Fidelity advisor, can you offer any names or first and last name letters?